Middle East & Africa Boron Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis

The boron market in the Middle East and Africa is projected to grow from US$ 112.78 million in 2023 to US$ 139.44 million by 2031, reflecting a compound annual growth rate (CAGR) of 2.7% during this period.

Executive Summary and Market Analysis

The electronics sector in the Middle East and Africa is witnessing significant growth, fueled by increasing consumer demand for devices such as smartphones, tablets, and laptops. Countries in the region are actively working to attract manufacturers of electronic products. For example, in September 2022, Egypt's Information Technology Industry Development Agency (ITIDA) partnered with Chinese electronics giant OPPO to establish a mobile phone manufacturing facility in Egypt, with an investment of approximately US$ 20 million. Additionally, in August 2022, HMD Global, the manufacturer of Nokia phones, collaborated with Etisal for Advanced Industries (EAI) to assemble 1 million mobile phones in Egypt, with plans to double production in the future. Such investments by manufacturers are expected to drive the demand for boron in the electronics sector.

Market Segmentation Analysis

The Middle East and Africa boron market can be segmented based on derivatives and end-use industries.

Derivatives: The market includes segments such as borax, boric acid, boron nitride, boron carbide, boron oxide, and others. In 2023, the boron nitride segment accounted for the largest market share.
End-Use Industries: The market is also segmented into agrochemicals, glass, ceramics, detergents, pharmaceuticals, electrical and electronics, and others. The glass segment was the largest contributor to the market in 2023.

Market Outlook

Boron is essential in the production of various glass products, including borosilicate glass, insulation fiberglass, and specialized glass types. For instance, textile fiberglass, or E-glass, is utilized in electronics and composite reinforcement. Borates play a crucial role in fiberglass insulation, with glass wool containing 4-7% borates. Furthermore, boric oxide is vital for creating high-quality decorative glassware. A specific type of cesium borosilicate glass is used to shield solar cells on satellites from harmful space radiation.

The incorporation of boric oxide in neutral glass enhances its chemical resistance, while in optical glass production, it contributes to desirable optical properties such as refractive index and light dispersion. Boron nitride, an advanced ceramic material available in powder form, is known for its thermal conductivity and shock resistance. In ceramics, boric oxide and sodium borate enhance strength and resistance to scratches and chemicals. The growth of the glass and ceramics industries is a significant driver for the boron market.

Country Insights

The boron market in the Middle East and Africa includes key countries such as South Africa, Saudi Arabia, the UAE, and others in the Rest of Middle East and Africa, which held the largest market share in 2023. Notable countries in this region include Egypt, Nigeria, Oman, Qatar, Kuwait, Iran, Turkey, and Kenya, all of which are making substantial investments in the glass industry, particularly in construction and packaging.

For instance, Sisecam Group, the fifth-largest glass packaging producer globally, expanded its flat glass production capacity to 2.5 million tons in June 2021 by investing in new float lines in Turkey. The rise of technologies such as the Internet of Things, artificial intelligence, and 5G networks is also increasing the demand for high-performance electronic devices in these countries. In October 2023, Egyptian startup Pearl Semiconductor secured US$ 4.5 million in funding from investors including Sawary Ventures and Qatar's QBN Capital, highlighting the growing investment landscape in the region. This collaborative investment approach is expected to further stimulate the boron market.

Company Profiles

Key players in the boron market include Hoganas AB, 3M Co, Ube Corporation, Arkema SA, JFE Mineral & Alloy Co Ltd, Tokyo Chemical Industry Co Ltd, Rio Tinto Ltd, Compagnie de Saint Gobain SA, Eti Maden, Nippon Denko Co., Ltd., Stella Chemifa Corporation, FREEMAN (JAPAN) CO., LTD, KROSAKI HARIMA CORPORATION, Washington Mills Electro Minerals Limited, and Boron Specialties LLC. These companies are pursuing various strategies, including expansion, product innovation, and mergers and acquisitions, to enhance their market presence and offer innovative products to consumers.

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